Global startup accelerator MassChallenge will scale up its Dallas programming with the help of a new two-year grant from Lyda Hill Philanthropies.
MassChallenge leadership hopes the renewed partnership with Lyda Hill Philanthropies will help spur additional breakthroughs in biotechnology and life sciences and attract more talent to North Texas. It builds on five years of collaboration since the opening of Pegasus Park, a 23-acre biotech and life sciences development in the Design District area that’s home to BioLabs, an incubator laboratory and office facility for startup life sciences companies, Bridge Labs, a non-incubator life sciences building with laboratory and office space, and more.
“Dallas has extraordinary strength in research, industry and capital, and we’re proud to be part of building a leading life science and biotechnology ecosystem here. We’re grateful that Lyda Hill Philanthropies’ renewed support allows us to continue the long-term work of accelerating high-potential biotechnology companies and contributing to the ecosystem of support around them,” said MassChallenge CEO Cait Reimers Brumme. “Lyda Hill Philanthropies has been a catalytic partner in building that connective tissue, and we’re grateful for their continued investment in the founders, institutions and relationships that are turning North Texas into a leading biotech and life science ecosystem globally.”
Since 2022, Texas-based applications to Mass Challenge national programs have grown more than fivefold and the Dallas Regional Chamber has recorded 14 life sciences corporate locations or expansions across DFW in 2025 alone.
“Dallas has proven its ability to attract major companies and investment. The opportunity now is to invest just as intentionally in the companies that start here and give them what they need to stay and scale here,” said Linda McMahon, CEO of the Dallas Economic Development Corporation. “That takes access to capital, talent, infrastructure and strong partnerships across the public, private and academic sectors. Dallas has tremendous strengths in life sciences and technology, and continued investment in our innovation ecosystem can translate those strengths into companies, quality jobs and long-term economic growth.”
Pegasus Park has rapidly grown since its launch, with BioLabs at Pegasus Park having filled its shared workspace in 15 months and the development of Bridge Labs, which opened in 2024.
“Lyda Hill Philanthropies has long believed that North Texas has the scientific talent, institutions and ambition to support a world-class life sciences ecosystem,” said Nicole Small, CEO of Lyda Hill Philanthropies and CEO of LH Capital. “Pegasus Park was created to bring the people, infrastructure and resources that innovation and scaling require into one place. The growth we’ve seen across the campus and the region reinforces what is possible when we invest for the long term, and this renewed partnership with MassChallenge will help more founders and companies build, grow and succeed here.”
